Sidus Space (NASDAQ:SIDU) Stock Price Up 17.1% - Here's What Happened

Key Points

• Sidus Space shares jumped 17.1% in Tuesday trading, reaching as high as $2.07 on volume of about 11.4 million shares, well above its average daily volume.
• Recent analyst commentary was still cautious overall, even though Wall Street Zen and Weiss Ratings made minor upgrades; MarketBeat says the stock’s average rating remains “Sell.”
• The company continues to operate with weak fundamentals, including a negative EPS, tiny quarterly revenue, and negative margins, despite some recent institutional buying activity.

Sidus Space, Inc. (NASDAQ:SIDU - Get Free Report)'s stock price was up 17.1% during mid-day trading on Tuesday . The company traded as high as $2.07 and last traded at $2.05. Approximately 11,396,719 shares changed hands during mid-day trading, an increase of 37% from the average daily volume of 8,347,948 shares. The stock had previously closed at $1.75.

Wall Street Analyst Weigh In

Several analysts recently commented on SIDU shares. Wall Street Zen upgraded Sidus Space from a "sell" rating to a "hold" rating in a research report on Saturday, May 23rd. Weiss Ratings upgraded Sidus Space from a "sell (e+)" rating to a "sell (d-)" rating in a report on Tuesday, June 23rd. One investment analyst has rated the stock with a Sell rating, According to MarketBeat.com, Sidus Space has an average rating of "Sell".

Sidus Space Stock Performance

The company has a market cap of $136.37 million, a PE ratio of -2.18 and a beta of -0.88. The firm's 50 day moving average is $3.41 and its 200-day moving average is $3.17.

Sidus Space (NASDAQ:SIDU - Get Free Report) last released its earnings results on Friday, May 15th. The company reported ($0.08) earnings per share for the quarter. The business had revenue of $0.36 million during the quarter. Sidus Space had a negative return on equity of 72.52% and a negative net margin of 806.85%.

Institutional Investors Weigh In On Sidus Space

Hedge funds and other institutional investors have recently made changes to their positions in the stock. Geode Capital Management LLC boosted its stake in Sidus Space by 28.1% during the second quarter. Geode Capital Management LLC now owns 120,799 shares of the company's stock worth $209,000 after buying an additional 26,498 shares during the last quarter. XTX Topco Ltd purchased a new stake in Sidus Space in the 2nd quarter valued at $168,000. Jane Street Group LLC acquired a new stake in shares of Sidus Space in the 2nd quarter worth $95,000. SG Americas Securities LLC acquired a new stake in shares of Sidus Space in the 4th quarter worth $118,000. Finally, Thompson Davis & CO. Inc. purchased a new position in shares of Sidus Space during the 4th quarter worth $194,000. Institutional investors and hedge funds own 17.91% of the company's stock.

Sidus Space Company Profile

Sidus Space Inc NASDAQ: SIDU is an end-to-end space-as-a-service company headquartered in Houston, Texas. The firm provides mission design, spacecraft manufacturing, ground segment infrastructure and mission operations through a turnkey approach tailored to commercial and government customers. Sidus leverages its integrated supply chain to support client missions from concept development through data delivery.

The company’s product offerings include small satellite buses, flight computers, payload integration services and proprietary ground control software, supplemented by cloud-based data processing and analytics tools.

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